38% and 50% retracement is the key here. That will validate a rally for a 3rd wave which will fight the resistance at 11.7k which we failed twice.
Our real trouble will be at 11.7k, that will be and epic fight up there, I have a target around 11.759 which is the top of our last resistance, here comes the thing, we should have a correction up there, a big correction considering this wave 2 is a 38% retracement, that 4th one will be dangerous, ( in normal situation we should go from 11.7k to the 68% retracement which is around 9700, if we fail there, it will be absolutely terrible, and 4k will be for real, otherwise if we correct normally the 4th wave, and get a good impulse, we can be out of that resistance breaking that top and going to 13k
Our real trouble will be at 11.7k, that will be and epic fight up there, I have a target around 11.759 which is the top of our last resistance, here comes the thing, we should have a correction up there, a big correction considering this wave 2 is a 38% retracement, that 4th one will be dangerous, ( in normal situation we should go from 11.7k to the 68% retracement which is around 9700, if we fail there, it will be absolutely terrible, and 4k will be for real, otherwise if we correct normally the 4th wave, and get a good impulse, we can be out of that resistance breaking that top and going to 13k